bit¢oin$

80085 (BOOBs)

*yelling* BOOB
*whispering* s

everyone these days is asking is elon musk pumping and dumping crypto currencies in order to cover for major accounting fraud at tesla

— br◎seph (@on3ness) May 8, 2021

two of my friends jokingly gave me 8 dollars a few months ago to invest in Doge when it was at 7 cents.

that 8 bucks is now grown to over $80. what a world.

you should buy a dog with it

How much will it increase in value

has to be a coin dog

the rest are all depreciating assets (everyday closer 2 death)

da blockchain (only good for crimes)

Microsoft is shutting down its Azure Blockchain Service on September 10, six years after initial launch, and no new deployments are being supported as of May 10 (@maryjofoley / ZDNet)https://t.co/c0vy6CCBNyhttps://t.co/ZcLlSLB4at

— Techmeme (@Techmeme) May 13, 2021

wild

New @Elliptic analysis of the #DarkSide ransomware:
- DarkSide has netted over $90 million in #Bitcoin
- The average ransom paid was $1.9 million
- The DarkSide affiliates, who infected the target organisations, took $74.7 million
Read more here: https://t.co/sunrKeHaNS

— Tom Robinson (@tomrobin) May 18, 2021

Companies that pay that shit gotta get prosecuted you can’t be handing people $2M for owning you

one of my twitter handles is the same as someone on sth called stocktwits, and I get some trading parasite @ing me every week with this $ bullshit

Companies that pay that shit gotta get prosecuted you can’t be handing people $2M for owning you

― Clara Lemlich stan account (silby), Tuesday, May 18, 2021 11:16 AM (six minutes ago) bookmarkflaglink

crazy thing is companies are buying insurance against attack now, or defacto buying insurance via hiring security companies that are themselves carrying insurance, so theyre just like fuck it pay it who cares

How do I invest in the ransomware guys then

that would be a fun game for some finance guy to formulate a derivative or whatever that pays when cyber crime does well

The Big Extort

I have a neighbor whose medium-size employer was ransomwared. they all got a week off cuz they literally couldn't work. they brought the FBI in and they said "you just have to pay the ransom". and you all thought Bitcoin wasn't good for anything.

there should be a crypto just for paying ransoms and then on a specific day have someone manipulate the market to make them all worthless before they can sell

perhaps...a Shitcoin

I learned last week that insurance companies have people who's job it is to negotiate with ransomware companies so that their clients get a better deal on the ransom. Seems like a fun job.

hello am i speaking to dark orb 420

yes please hold a minute while I pull up the details of your account

can't say i'm happy mel gibson found the work

BITCOIN FALLS 24% TO $32,241; ETHEREUM DOWN 38% AT $2,083

— *Walter Bloomberg (@DeItaone) May 19, 2021

#NewProfilePic pic.twitter.com/W1UQ4yoQHz

— Tom Brady (@TomBrady) May 10, 2021

Let's talk about the Tether scandal, why recent disclosures about it are such a big deal, and why it represents a form of systemic risk for the already shady crypto market. (1/) 🧵

— Stephen Diehl (@smdiehl) May 15, 2021

that seems bad

the crazy thing is people have been on to the tether scam for years, the thing thats changed is now theres proof that tether wasnt holding the dollars it claimed, but it was obvious all along

I didn’t know about the Tether thing, this is very funny and good.

seeing a lot of poker dudes whining about people making fun of them today as though they didn't spend years saying "have fun being poor" every time someone criticized their stupid imaginary internet money

i'm sure it'll be back up to record heights within a year

Every bitcoin person is either a huge sucker, a huge asshole, or both.

it's completely wild that the dollar price of bitcoin is mostly based on settlements with "dollars" that are worth $0.03

round up

people have been tracking the timing of issuing new tethers to when the bitcoin price needs to be boosted, various other market manipulations wash trading and so on, its not exactly done out in the open but its obvious and has been all along

iirc some of the people involved in creating tether had a "robbery" at the exchange they were operating that def seemed like it could have been just them stealing bitcoins

the fact that bitcoin is pseudonymous and many of the exchanges operate in jurisdictions with little to no regulation just makes it trivial to wash trade, particularly if you happen to be operating one of the exchanges

i'm sure it'll be back up to record heights within a year

― parenthetically yours, (Karl Malone), Wednesday, May 19, 2021 4:05 PM (fifty minutes ago) bookmarkflaglink

i think the end game is it not being worth much, its only real utility is as money for the black market which doesnt require it to be worth a lot, but who knows when that will happen, as to why it will happen greater regulatory scrutiny could take it down or the suckers could get tired of being ripped off by the scammers and then demand just dries up or similarly how scammy it is could come to greater public attention idk

an actual stable coin would be more useful to the black market now that i think about it

brb going to start crime coin

yeah I mean I use it just for poker/sportsbetting purposes, the actual price of a bitcoin doesn't matter to me. it's a hell of a lot easier than trying to move dollars around but definitely harder than it was in the PartyPoker days

that said there really is no "end game", I will always believe that bitcoin/blockchain was some semi-brilliant "proof of concept" thing that was never meant to be taken seriously until certain people got their hands on it. fwiw I think the real breakthrough with BTC was the acceptance that this was just never gonna be a 'real' currency and instead was just some wildly fluctuating and easily manipulated asset that's fun to gamble on. that's when it made sense to me. I do still laugh about the days when every coffee shop had "we now accept Bitcoin!" signs which would result in people waiting 15 minutes for their $2 transaction (plus $6 in fees) to go through

Other than black market (which I'm not even convinced is a great use), the one use case I see is capital flight - you're not going to give a shit about the inefficiency of blockchain if you're trying to move a million overseas to evade your govt. Still, it seems like to that end there's little reason to hold money in bitcoin or other crypto for very long, just purchase it when you need to move the money.

yeah money laundering/tax avoidance/etc maybe not totally precisely described as black market tho i was thinking of those money crimes too

it is obvs good for buying illicit goods and services too tho, its really the only thing people are using it for now, see frogbs poker/gambling post

just some wildly fluctuating and easily manipulated asset that's fun to gamble on. that's when it made sense to me.

― frogbs, Wednesday, May 19, 2021 5:25 PM (twenty-four minutes ago) bookmarkflaglink

feel like most people who invest in bitcoin dont look at it that way tho, most of them seem pretty serious about it, as people tend to be about their money, are out there predicting bitcion will rule the world

It's always hard to know, especially when you're just dealing with some twitter rando, whether they are a true believer or just think they are "in" on a viral ponzi/MLM scheme and therefore act like a true believer. I always wonder what % of the market cap is driven by the former vs latter.

i think mostly they really believe it, some of the people with a big social media profile might be a different story tho

the whole idea of cyber bucks really excites a certain type of person

ive talked to some of them in real life